So after a lot of testing on this issue again, I have come to notice that this problem with the fake shadow bias does NOT exist when the opacity of all the light emitters is left at 1. I usually hide all my emitters by setting the opacity to 0 in the scene (as most of my scenes are interior scenes), so this problem was pretty much always there. It makes me wonder why it only happens when the emitters opacity is set to 0 and what the chances are this will be fixed sometime?
Octane is already miles behind when it comes to skin shading when compared to pretty much every other render engine (who more often than not provide dedicated skin materials).
And using the random walk medium on a specular material is the only way to make skin look somewhat good in Octane. Since there is already the faceting issue when using specular materials (that can only be minimized by increasing subdivision levels to a ridiculous amount) that Otoy is seemingly unable to fix, this makes working with realistic skin a nightmare in Octane.
I just hope Otoy will take a step forward in regards of skin shading as it is a great render engine in most other departments.